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National Income and Related Aggregates Test - 12

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National Income and Related Aggregates Test - 12
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  • Question 1
    1 / -0

     As per the CSO classification, which of the following does not fall under the industrial sector?

  • Question 2
    1 / -0

    Which of the following are not included while estimating domestic product of India

    Solution

    Capital gains is not considered as income by economists.

  • Question 3
    1 / -0

    NNP Mp = GNP mp - depreciation

    Solution

    Depreciation doesn't add anything to national product.

  • Question 4
    1 / -0

    NDPmp = GDPmp - depreciation

    Solution

    Depreciation does not add anything to domestic product.

  • Question 5
    1 / -0

    NDPFc is equal to

    Solution

    Indirect taxes are included only in Market price not in factor cost. So NDP at factor cost can be derived by subtracting net indirect taxes from NDP at market price.

  • Question 6
    1 / -0

    GDPfc is equal to

    Solution

    NDPfc=GDPfc-depreciation. Gross in economics stands for total. 

  • Question 7
    1 / -0

    NNPfc is equal to

    Solution

    NNPfc=GDPfc-depreciation +net income from abroad. 

    GDPfc =GDPmp-net indirect taxes .

  • Question 8
    1 / -0

    NNPfc = NDPfc + Net factor income from abroad.

    Solution

    NDP doesn't include net income from abroad.

  • Question 9
    1 / -0

    Households give factors of production to firms and firms in turn supply goods and services to households. Is it true in a two sector model?

    Solution

    Two sector model include households and firms only.

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